2024-02-23 03:35:12 ET
Summary
- CNA benefitted from higher interest rates, an advantage for its NII that should continue with a higher-for-longer Fed policy.
- Revenues and earnings were especially strong in 2023, a performance overshadowed by concerns for financial service stocks.
- Conglomerate Loews significant ownership of CNA has played a protective role, akin to an insurance policy and "guard dog."
- A growing dividend yield close to 4% has been supplemented by special dividends every year for a decade, often doubling the annual income stream investors receive.
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CNA Financial: A Beneficiary Of 'Higher For Longer' Interest Rates